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Gav

Is it time now?uhm…..EURUSD

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We had an exciting week for EURO. Now, it looks kinda bullish, and poised to break historical high again. OK, no sure thing, but chances are there. There are a lot of reports/commentary from G7 meeting. It depends on how do you read it. Again, I am not a financial analyst, so nothing much I can comment about. Chart wise, I am still in bullish position. I am looking for long opportunity at the moment.

Here is the…..CHART!

[photopress:eurusd13april2008.gif,full,1]

And here is the …..Trend Score! Obviously, we are still in strong uptrend.

[photopress:eurusd13april2008_trend.jpg,full,1]

About the tool

Another EURO trade

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What a day for EURO! Just as I thought it might be a boring day, I saw something was cooking in EURUSD chart. I went long during London session. This is a classical text-book style setup. OK, again, it is Trader Gav’s text book though. 😆 My plan was to catch the ride when it tried to test historical high again. So, I was looking to exit the position some where at mid 1.58-ish. Yup, it was mission accomplished. I forget the number, I think this is another 100 pips trade. (Maybe I will update the figure after getting my journal done.)

Here is …… commercial-class CHART! looks like a snake-oil trading course advertisement now. 😆

[photopress:EURUSD09April2008.jpg,full,1]

One Euro trade

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Monday, I had a couple of currency pairs in my box. Generally, I am bullish about Aussie dollar, EURO, and kinda bearish about GBP. I went in for long positions with EURUSD, AUDUSD, and do a intraday short of GBPUSD.

GBP trade was a crap. It was a bad-timed entry. Nothing to write home about. I got -1R on this, smaller than normal R-sized for this trade though. EURUSD was a surprise. I was thinking the trade might be going nowhere, but heck, profit target 1.5800 was achieved during Tuesday asian session. Not too bad for a night’s work, around +90 pips profit. 🙂

Here is….CHART! another trading course commercial-like chart. 😆

[photopress:EURUSD07April2008.JPG,full,1]

It is time now…

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I was busy preparing my currency and futures trading stuffs and forgetting about making this short post. If possible, donate a portion of your monthly trading profit (Profit, if you are having a bad month, then let’s do it later) to any charity organization of your choice. Any amount, even just a small token , it really doesn’t matter.

I have a couple of friends response to me ‘ I am donating to myself’, ‘when I am making a lost, who is donating to me?’…that’s sooo lame.  Anyway, making donation is a personal preference, nothing is easier than taking out $20 from your profit to help some needies. Well…

Right, I have no new item in the list. Here are the two for your consideration. (Having said that, just to make it clear, I am no affiliate to these organizations, so..)

http://www.worldvision.com.au/

http://www.oxfam.org.au/donate/

Is it time now?…AUD/USD….uhm…

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So, I see something better, maybe something pleasant. We had weaker than expected employment condition in U.S. In addition, RBA maintains the possibility of further interest rate hike later. I am not into fundamental analysis, but the current condition seems to favor my still bullish view of Aussie dollar. Anyway, we are back to 0.92-ish now. In fact, my next trading target is somewhere around mid-93-ish level. Let’ see how it goes. 🙂

There is one thing to watch out…GOLD! This crap is still enjoying its diving session. 😆 . I mean, we might still need some time to see if GOLD is to rebound. This, of course, influences how Aussie and dollar perform.

Here is the….CHART!

[photopress:audusd06april2008_1.gif,full,1]

Here is the….Trend Score! A weak uptrend might be a start of new uptrend, at the same time, it might be just a trap. let’s see.

[photopress:audusd06april2008_trend.jpg,full,1]

About this tool

Gav’s weekend rambling

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I have been spending my weekend refreshing my memory/skill of NQ futures trading. Playing around with Tradestation. Thanks to the daylight savings things, U.S market opens around 1030pm Melbourne , Australia time. I would be pretty free at this time (currency orders should already been submitted, triggered or expired so…), instead of sticking my ass on sofa watching CSI miami, I am starting my futures trading engine again. Well, let’s see how it goes, no rush though.

Over at The Lonely Trader, reader LP was asking Jay for recommendations of currencies trading books. In short, the conclusion is , all most all the books s*ck. Well, that’s a fair statement. :lol:. I was browsing around some trading portals/forums, particularly on currency trading topics, craps. Again, and again these authors, self-claimed professional traders, full time traders, are just repeatedly writing something useless. ‘Why we do not trade on NFP day’, ‘Currencies pairs personalities’, ‘how retail forex works’,’ how leverage can maximize your profit’. Yeah, these topics are just…crap..opps, sorry, …useless.Try google it, you can find the same topics easily. It is just so boring. Anyway, you can’t learn trading from reading these stuffs.

So, how to learn currency trading? Trade currencies, and find a way to save yourself, learn to survive. Uhm…that’s all the ‘advice’ I can give. 🙂 If you are interested, maybe have a look at blogs like lonely trader, the3500, and of course, Trader Gav.com to find some clues about skill of exchanging currencies 😆 Anyway, you have to jump into the pool to learn swimming. You can’t just googling ‘how to swim’ and expect something to happen.

Ok, enough rambling. April version of Currency Trader magazine is out, check it out. Chart scanning will be done tomorrow. I guess we should have a clearer direction next week, I hope so!

Have a good weekend.